JAKARTA – Shareholders of PT Cikarang Listrindo Tbk (POWR) have agreed upon the issuance of Notes in a foreign currency worth USD 500 million. This corporate action is expected to improve cash ratio of the company.

Ko Rina, Investor Relation & Corporate Finance Manager of POWR, mentioned that the yield attached to the upcoming notes is set to a maximum of 7% per annum.

“It will mature at its 10th year at the very least since the notes was issued,” Rina said, as quoted Monday (25/11).

This plan of bond issuance was approved during Extraordinary General Meeting of Shareholders last week (22/11). Total quorum represented 15.58 billion shares or 92.272% of total valid votes issued by POWR.

The proceeds of the notes will be used to pay bonds maturing in 2026 worth USD 550 million to Listrindo Capital BV and The Bank of New York Mellon as the trustees.

As of December 2023, POWR booked total current assets of USD 556.30 million, non-current assets of USD 765.92 million, short-term liabilities of USD 57.81 million, long-term liabilities of USD 562.28 million, and total equity of USD 704.12 million. (LK/ZH)